The Tribunal quashed the attachment after verification showed only four items matched the alleged seller and no material established benami holding. The provisional attachment under PBPTA was held unsustainable.
ITAT Delhi held that interest awarded under Section 28 is an accretion to compensation and cannot be taxed as income from other sources. The appeal was allowed following Supreme Court precedent.
CESTAT Kolkata held that penalty under section 114AA of the Customs Act is not sustainable in absence of cogent, tangible or corroborative evidence linking connection of appellant in fraudulent export by forming a syndicate. Accordingly, appeal is allowed and penalty is set aside.
NCLAT held that invoices with default dates beyond the Section 10A period cannot be barred under the COVID suspension provision. The ₹2.36 crore claim was restored for fresh consideration.
NCLAT Delhi held that demand notice under section 13(2) of the SARFAESI Act is a valid notice of invocation of personal guarantee for the Insolvency proceeding. Accordingly, appeal is dismissed.
The Central Excise (Amendment) Act, 2025 restores excise duty powers after the cessation of GST compensation cess. It sharply increases tobacco duties to maintain tax incidence at GST-era levels and prevent products from becoming cheaper.
The Budget introduces a ₹10,000 crore SME Growth Fund and GST interest relief, while imposing mandatory late fees for tax audit delays. Taxpayers must balance benefits with stricter compliance.
Under the CGST Act, executives responsible for company operations may face prosecution unless they prove due diligence. Corporate personality no longer provides absolute protection.
Learn the legal routes, tax exemptions, and documentation required to preserve tender eligibility during business transfer. Proper structuring under Section 47(xiii) is crucial.
Major updates include Supreme Court GST classification rulings, IBC jurisdiction clarifications, DTAA amendment with France, and DGFT export relaxations. Compliance and enforcement landscape sees significant changes.
